Siemens and Bentley Systems announced that they have formalized a strategic alliance agreement to drive new business value by accelerating digitalization to advance infrastructure project delivery and asset performance in complementary business areas.
The two companies will initially invest at least EUR 50 million in developing joint solutions to enlarge their respective offerings for infrastructure and industry to the benefit of the end-customers. This work will uniquely leverage new cloud services for a connected data environment to converge respective digital engineering models from both companies. In addition to those elements of the agreement, approximately EUR 70 million of secondary shares of Bentley’s common stock have been acquired by Siemens, under a company program that will continue until such time as Bentley Systems’ stock is publicly traded.
The new investment initiatives will involve virtually all Siemens divisions. The major benefit will be accumulating intelligence from Siemens solutions throughout Bentley’s complementary applications for design modeling, analytical modeling, construction modeling and asset performance modeling. As a result, the integrated and accessible digital engineering models, such as the “digital twin” viewed through an immersive 3D interface, will enable unprecedented operational performance, visibility and reliability. This work will uniquely converge digital engineering models: physical engineering models in their 3D physical reality context by way of Bentley’s software solutions and the corresponding functional engineering 2D models within Siemens’ solutions.
Siemens and Bentley Systems have identified opportunities to work together in Energy Management, Power Generation, Building Technology and Mobility where each company can leverage their respective technology and industry expertise to bring new business value to the market.
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